23.03.2015, 18:15
The Board of Thor Mining Plc is pleased to advise the appointment of corporate advisors to Thor
OREANDA-NEWS. The Board of Thor Mining Plc ("Thor") (AIM, ASX: THR) is pleased to advise the appointment of corporate advisors to Thor for the purpose of securing project finance for the advanced Molyhil Tungsten Project, in Australia's Northern Territory.
London-based Grant Thornton UK LLP Corporate Finance has been mandated to introduce parties and lead discussions with a view to securing finance necessary for project development. A number of suitable parties have been introduced and several of these are conducting reviews of the Molyhil Tungsten Project and of Thor.
Similarly, Brookville Capital Limited and its Australian associate Grand Private Equities Pty Ltd have also been appointed to make capital introductions.
In addition, further to recent disclosure in respect of the Molyhil Feasibility Study and the project's current JORC 2012 reserve of 3.0Mt @ 0.31% WO3, Thor is pleased to advise on a number of potential mine life extensions from nearby Exploration Targets* and project optimisation upside.
Mr Mick Billing, Executive Chairman of Thor Mining:
"We believe the Molyhil project is robust and we are pleased to have secured the services of these eminently qualified advisors, and that a number of entities are conducting a review. Project payback of 18 months is very positive, and even at the low point of tungsten pricing for the past 4 years, that payback period is still no more than 2 years. In addition the potential for a substantially longer life operation via the exploration targets identified is significant and we look forward to developing these.
London-based Grant Thornton UK LLP Corporate Finance has been mandated to introduce parties and lead discussions with a view to securing finance necessary for project development. A number of suitable parties have been introduced and several of these are conducting reviews of the Molyhil Tungsten Project and of Thor.
Similarly, Brookville Capital Limited and its Australian associate Grand Private Equities Pty Ltd have also been appointed to make capital introductions.
In addition, further to recent disclosure in respect of the Molyhil Feasibility Study and the project's current JORC 2012 reserve of 3.0Mt @ 0.31% WO3, Thor is pleased to advise on a number of potential mine life extensions from nearby Exploration Targets* and project optimisation upside.
Mr Mick Billing, Executive Chairman of Thor Mining:
"We believe the Molyhil project is robust and we are pleased to have secured the services of these eminently qualified advisors, and that a number of entities are conducting a review. Project payback of 18 months is very positive, and even at the low point of tungsten pricing for the past 4 years, that payback period is still no more than 2 years. In addition the potential for a substantially longer life operation via the exploration targets identified is significant and we look forward to developing these.
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